Raymond Realty is ready to expand its business in Mumbai Metropolitan Region

- Sandeep Maheshwari

COO, Raymond Realty

How did you feel receiving the award for the 'Emerging Developer of the Year' at the BAM Awards 2022?

We are honoured to accept this prestigious award of Emerging Developer at BAM Awards 2022 from the Hon'ble Chief Minister of Maharashtra Shri Eknath Shinde. It really feels motivated when you get appreciated by industry experts for your work at such an early stage of operations. All our efforts and hard work are being recognized. It also comes as a positive sign that we are progressing in the right direction.

Can you give us a brief on the inception of Raymond Realty and its emergence as a leading player in luxury real estate segment?

Raymond Realty incepted in 2019 started by monetizing its 100+ acres land parcel at Thane to create a better lifestyle and community living for the people.

In 2019, Raymond Realty launched its maiden project TENX Habitat of ~4.3 million sq ft with 3,100+ smart sized homes, spread over 14 acres. The first three towers are completed, and in December 2022, we are committed to deliver them, 24 months ahead of the declared RERA deadline. This commitment by Raymond Realty for its customers will be a first-of-its-kind benchmark in the industry, as we build on Raymond's brand ethos of Quality, Trust and Excellence. This adds huge value to the customer experience in this group who get their homes before time.

As a growth strategy, we then launched our second project, The Address by GS, at Thane, for the luxury segment with apartments ranging from 3 BHKs to penthouses. This project has also been very well received by the targeted customer base and has helped us emerge as a promising developer in terms of both sales and operations excellence.

We are following the 'customer first' philosophy by implementing Construction Excellence in all our projects. Looking at the market growth, we are planning on growing in the luxury real estate segment. We have upcoming projects which will capture a wider customer base, using more advanced construction techniques and challenging ourselves to further break the industry norms. Our aggressive approach towards obtaining design efficiencies, approvals and contracting abilities will definitely leverage the brand's presence and accelerate our growth.

Looking at the projects of Raymond Realty, it clearly reflects your approach of 'Going Beyond'. How did you manage to keep on continuous innovation and improvement?

At Raymond Realty, we are constantly improvising on achieving aggressive timelines and raising the operational excellence bar. Focusing on Operational Excellence (OpEx) and Customer Experience (CX) has been a major game changer for Raymond Realty. With just four years into operations, a robust framework has been implemented to ensure seamless alignment between operational teams, processes and transactions that has enabled the business to set new benchmarks in the sector.

Key Focus Area (KFA): Product focused, Growth focused, Market focused; Engagement of right talent; Enhancing process capability; Optimum use of construction technology; and disciplined execution - On time in Full (OTIF) - delivering the promises made to customers on time.

We managed continuous work at site throughout the monsoon without any unpleasant incidents and the towers can be seen well above the ground. We make sure efficient resource planning is done to get the best output.

Our CMD is equally involved and believes in challenging ourselves beyond the normal. We continuously push ourselves to do bigger things in a better way so as to break the traditional market norms. This is how we intend to compete with the established industry players.

Having a breakthrough mindset and trusting each other with their ideas has improved our performance and, in some cases, even innovated new ways of doing the same thing. Our fresh perspectives on standard processes have operationally expedited activities on site. Micro management at early stages of the project helps in aligning everyone for better output.

Which are the latest and upcoming projects? How will you differentiate these projects?

Raymond has two ongoing projects in Thane: TenX and The Address by GS. We are at approval stage for two new upcoming projects. These projects are different in terms of location and the targeted customer base. This will help us expand our presence geographically and reach out to a wider and categorically different customer segment.

Operationally, these projects will be challenging considering the location and a strategic approach for commencement, execution & completion of work will be required to be implemented for smooth progress. Our on-going projects have been within our Jekegram campus, so now we are all geared up to move out and deal with bigger challenges like logistics, time management etc. With the experience of current projects, we are sure we will deliver our commitments.

What is your view on the current real estate market scenario? Which are your latest and upcoming projects?

Residential market is at an all-time high and we are definitely aligned accordingly. Raymond is a brand associated with the complete man and we are turning no stone unturned to add 'the complete home' to it. Upcoming residential projects of more than 5.5 million sq ft will be out soon. We are also exploring commercial and retail projects but it'll take some time before we go public with them.

Construction, in general, is at a medium pace across various ongoing projects. Recent increase in material costs due to the Russia-Ukraine war did disturb the general progress in the market. However, our commitment to our customers has kept us going and we will continue to work non-stop like we did within the pandemic constraints. Our team is being developed to face uncertainties, expected or unexpected, and the future looks bright.

What kind of opportunities do you look forward to in future? What are your expansion plans?

We want to establish ourselves as a premium real estate developer. We are a new-bee in the market and are strategically paving our path for expansion. We are considering all opportunities where we get market value through customer satisfaction and are able to showcase our capabilities to execute & deliver as well.

In addition to housing projects in thane, Raymond Realty is ready to expand its business in Mumbai Metropolitan Region (MMR). We are evaluating numerous options through joint development agreement without land acquisition.

Our key focus areas would be Western and Eastern Suburbs and Navi Mumbai.

Currently we are more focused on residential projects while we definitely have a five-year plan, towards which, the organization is, altogether, working very hard.

As a fast emerging player in realty sector, what is your long term vision?   

Our Chairman is very clear about expanding our business across geographies and portfolios. From the 'Complete Man' to 'Complete homes', we aspire to establish ourselves as a Customer Centric developer, engaging the best of the talent to deliver product differentiators.

Our vision: “Raymond Realty wants to fulfill customer's dream of moving into a home or workspace built to the highest of standards. As a prestigious and time-tested brand, Raymond goes beyond exceptional value, quality, and customer service to create a lifestyle that leads to community building and is rich in beauty, comfort, and fulfillment. That's why we are the preferred developers wherever we go.”

Home ownership is an inspiration in India and we seek to fulfill this cherished dream for all, while delivering operational excellence and customer experience.

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